Mortgage Rates Weekly Update for September 24, 2018
Mortgage Rates Update for September 24, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote
Mortgage Rates continued to move higher last week as mortgage bonds sold off as the stock market rallied higher . If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds are in a downward trend that started at the end of August shown with the black arrow. Mortgage bonds were able to find a floor of support on Wednesday and held Thursday and Friday at that floor of support so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rally higher off this floor of support.